Fxprotrader
Long

GBPUSD Key Zone To Watch For Longs (Pending Bullish Gartley)

FX:GBPUSD   British Pound/U.S. Dollar
5 months ago
GBPUSD             is moving into a corrective structure having already completed waves A & B after an impulsive up wave. Price is dropping completing wave C and soon will reach a very strong level where we may have the completion of the ABC corrective pattern. A buy setup completion in this level will probaly signal the beginning of a new up move. I will update if anything bullish forms in that zone. For those who have no problem with a bigger stoploss at the 0.786 fib retracement we have the completion of a bullish gartley pattern

Like and follow for updates..!
5 months ago
Comment: Pending Bullish Gartley
snapshot
5 months ago
Comment: Price has reached the sell zone. We should now wait for a sell setup to complete based on a tested rules based strategy. I will personally wait for a wave pattern to complete at this level.
5 months ago
Comment: ** price has reached the BUY ZONE
5 months ago
Trade active: Although price has gone some distance from the time has entered the buy zone i had no setup completion till now that i do. So based on my strategy i will go with the setup below:
snapshot
Thanks I regret I'm still in there with a long position, current close to my SL , to which level you advise to move my SL in order to wait for the bullish good times to come?
Reply
Fxprotrader Weflyatnight
5 months ago
If i have understand correctly you have a long position open and you move your stoploss so not to be stopped? I apologise if i didn't get it correctly ;)
+1 Reply
Weflyatnight PRO Fxprotrader
5 months ago
Yes I traded wrongly, am learning hopefully, but want to survive the wrong trade by shifting SL downwards a bit more 1.2920 instead of 1.2980 currently?
Reply
Fxprotrader Weflyatnight
5 months ago
No offense at all mate, but this can be disaster for your account.. Stoploss is your number one friend in trading because it protects your capital so you may trade the next day. So in my opinion you should close your position now, and wait for a new opportunity to come. i hope that this helps..! ;)
+1 Reply
MarcuDan Weflyatnight
5 months ago
Usually moving the SL is on "do not do" list, except for when you move your SL to break-even. You set you stop at the point where you think "if the price hits my sl, i was wrong with the direction". In you case i would suggest as Fxprotrader did, to close you position and wait for another opportunity. There is no guarantee that if you move the SL, the price won't get there.
Reply
jonats
5 months ago
Wouldn't mind a more distinct rally to 1.32-1.3250 before the next leg down but I see that you are bearish GBP instead of bullish USD (since bullish NZDUSD) so why not short GBPNZD? :)
Reply
Dguaman
5 months ago
We are really close ! nice call .. thanks !
Reply
justTRADEit
5 months ago
good call, waiting for your update...
Reply
Fxprotrader justTRADEit
5 months ago
Thank mate :)
Reply
KhunHunSein
5 months ago
i think time to long now and what do u think ?
Reply
Fxprotrader KhunHunSein
5 months ago
If you have a buy setup completed based on your strategy, you may go long. Good luck :)
Reply
KhunHunSein Fxprotrader
5 months ago
thank bro
Reply
Fxprotrader KhunHunSein
5 months ago
You are welcome :)
Reply
Dguaman
5 months ago
Looks like we can jump in =D
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out